Head of Joy Business, Nanabanyin Addo-Brown, has said green finance should go beyond banks and big corporations to support investments that deliver climate and environmental benefits.
Speaking at the Ecobank-Joybusiness financial dialogue series at the Ecobank Auditorium in Accra, Mr Addo-Brown said green finance is not only about large financial institutions or major companies, but about directing money towards investments that can help address environmental challenges and build climate resilience.
The dialogue, held under the theme “Green Finance, Real Impact: Powering Inclusive Agri-Growth in Ghana,” brings together agricultural small and medium-sized enterprises (SMEs), entrepreneurs, regulators, the media and other stakeholders to discuss how green finance can support inclusive growth in Ghana’s agricultural sector.
Mr Addo-Brown explained that, at its simplest, green finance is about moving money towards investments that create environmental and climate benefits.
“At its simplest, green finance is just about moving money towards investments that create environmental and climate benefits.”
He said the concept has practical applications in agriculture, where financing can support better irrigation and water management, renewable energy, climate-smart production, energy-efficient machinery and improved storage.
“In agriculture, it could mean financing better irrigation and water management, renewable energy, climate-smart production, energy-efficient machinery, improved storage, and other investment that helps farmers and agribusinesses to become more resilient and resource efficient.”
According to him, the focus should also be on understanding where green financing is going and whether it is reaching investments that can make a meaningful difference.
“So the question is, where is the money? What happens to the money? That is the question that we’re all asking.”
He said the need for such investments is becoming increasingly important as climate-related challenges continue to affect agriculture and food production.
Mr Addo-Brown noted that changing weather patterns, including variations in rainfall, can affect farming activities and make it necessary for farmers and agribusinesses to adopt more resilient production methods.
He cited investment in early-maturing crop varieties and other climate-smart practices as some of the measures that can help farmers adapt to changing conditions.
He also called for collective efforts to protect the environment and ensure that financial resources are directed towards sustainable investments.
“All of us must be committed to protecting our environment.”
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